Miners, energy hit as ASX drops 1.6pct

Derek Rose | September 26, 2022

The Australian share market has been hit with another sell-off, with heavy losses for the mining and energy sectors.

The benchmark S&P/ASX200 index on Monday closed down 105.3 points, or 1.6 per cent, to a three-month low of 6469.4. 

The broader All Ordinaries fell 121.2 points, or 1.79 per cent, to 6667.5.

Meanwhile, the US dollar index, which measures the strength of the greenback against a basket of other currencies, hit a two-decade high.

The Aussie was buying just 65.01 US cents, from 66.17 US cents on Friday, its lowest level since May 2020.